Publications
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09.28.2023NYDFS Proposes Updates to Guidance for Listing and Delisting Digital AssetsBlogsThe New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced significant changes to the Department’s “Greenlist” of vetted digital assets.
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08.29.2023FFIEC BSA/AML Exam Manual Updates—Implications for BanksUpdatesThe Federal Financial Institutions Examination Council released the fifth phase of updates to the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual on August 2, 2023.
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06.06.2023Final Interagency Third-Party Risk Management Guidance Issued on June 6, 2023: Implications for Banks and FinTech CompaniesArticles
Perkins Coie LLP
There is an adage among regulators, “same risks, same rules” or “leveling up,” and on June 6 the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (FRB), and Federal Deposit Insurance Corporation (FDIC) (together, the “Agencies”) issued final interagency guidance on managing the risks associated with third-party relationships (Final Guidance). -
05.12.2023NYDFS Implements Virtual Currency Assessments RuleUpdates
The New York Department of Financial Services formally implemented its Virtual Currency Assessments Rule as 23 NYCRR 102 on Wednesday, April 19, 2023, by publishing a notice of adoption in the State Register. Under the new assessments rule, entities that hold a virtual currency business activity license, the “bitlicense,” will be charged an assessment for their supervision and examination by NYDFS.